B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 3,997 Bio-Techne Co. (NASDAQ:TECH)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Bio-Techne Co. (NASDAQ:TECH) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,997 shares of the biotechnology company’s stock, valued at approximately $319,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Bio-Techne by 20.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,714,994 shares of the biotechnology company’s stock worth $122,879,000 after buying an additional 290,510 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Bio-Techne by 8.2% in the 2nd quarter. Mackenzie Financial Corp now owns 2,862,260 shares of the biotechnology company’s stock worth $205,081,000 after acquiring an additional 216,044 shares during the last quarter. Broadcrest Asset Management LLC lifted its holdings in shares of Bio-Techne by 100.0% during the third quarter. Broadcrest Asset Management LLC now owns 200,000 shares of the biotechnology company’s stock valued at $15,986,000 after purchasing an additional 100,000 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Bio-Techne by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,589,799 shares of the biotechnology company’s stock valued at $185,559,000 after purchasing an additional 88,257 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Bio-Techne by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 894,352 shares of the biotechnology company’s stock worth $64,082,000 after purchasing an additional 76,641 shares in the last quarter. 98.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TECH. Scotiabank upped their price objective on shares of Bio-Techne from $83.00 to $88.00 and gave the company a “sector outperform” rating in a research note on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Bio-Techne in a research note on Tuesday, August 13th. Royal Bank of Canada lowered their price objective on shares of Bio-Techne from $72.00 to $70.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. StockNews.com upgraded Bio-Techne from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Robert W. Baird lifted their price target on Bio-Techne from $82.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.78.

Bio-Techne Price Performance

Shares of NASDAQ:TECH opened at $71.28 on Monday. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 75.83, a P/E/G ratio of 5.19 and a beta of 1.28. Bio-Techne Co. has a 1 year low of $61.16 and a 1 year high of $85.57. The company has a current ratio of 4.56, a quick ratio of 3.26 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $73.77 and a 200 day simple moving average of $75.22.

Bio-Techne (NASDAQ:TECH) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $289.46 million during the quarter, compared to the consensus estimate of $280.22 million. Bio-Techne had a return on equity of 12.76% and a net margin of 12.86%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. As a group, sell-side analysts predict that Bio-Techne Co. will post 1.68 earnings per share for the current fiscal year.

Bio-Techne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Monday, November 11th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Friday, November 8th. Bio-Techne’s dividend payout ratio (DPR) is presently 34.04%.

Bio-Techne Profile

Bio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research and clinical diagnostic markets in the United States, the United Kingdom, rest of Europe, Middle East, and Africa, Greater China, rest of Asia-Pacific, and internationally.